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International Banking

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Wegagen Bank provides comprehensive international banking services at the Head Office, in all its city branches and some outlying branches such as Adama, Dire Dawa, Mekelle, Jijiga, Gondar, Gendawuha and Humera.

The Bank has established correspondent banking relationships with 127 internationally known banks to facilitate its international banking services, of which account is maintained with 22 banks for the use of standard settlement instruction.

Letters of Credit (L/C)

Wegagen issues letters of credit (L/C) for importing and exporting goods and services.

Cash Against Document (CAD)

In this mode of payment the supplier or seller surrenders documents to his/her drawer’s bank after which the documents be automatically forwarded to the importer’s bank on collection basis.

Outward Bills Purchased (OBP)

OBPs are payment orders expressed in the form of negotiable instruments such as checks, drafts, traveler’s checks, international money orders, etc, purchased by the Bank.

Outward Bills for Collection (OBC)

OBCs are clean checks received from customers and are payable upon confirmation of the originating bank.

Outward Documentary Bills Purchased (ODBP)

Instrument issued by a foreign bank on behalf of its importing customer. The issuing bank specifies all the requirements of its customer in the letter of credit and undertakes to honor all drafts drawn in conformity with the credit terms and conditions.

Outward Documentary Bills Sent for Collection (ODBC)

Documents sent to the issuing bank on collection basis at times where the exporter’s shipping documents are not in conformity with the credit terms and conditions.

Welcome to Wegagen Bank S.C.


Wegagen Bank launches corporate internet banking, retail internet banking and USSD mobile internet banking services.

More news to follow.


Wegagen, Lighting the skies !

Wegagen’s new 23-storey headquarters’ building construction projectwhich has been under construction for only just a year now, has hit a 40% completion stage.  The monumental building complex, sited right at the heart of the city next to LalibelaRestaurant, has got its entire superstructure, all 23 storey, already completed well ahead of schedule.The construction project, in safe hands under renowned Chinese contractors, is expected to be finalized in less than 18 months from now.  The building is already earning the Bank its deserved reputation and image in the eyes and hearts of the general public as well as its customers and entire community who are proud of its remarkable move.



Rearing to the century mark

Wegagen Bank is expanding its branch network all over the country. The total number of branches of the Bank reached 95, by opening of 19 additional branches in the last fiscal year of 2013/14, making it one of the private Banks that has opened more branches in the fiscal year. The Bank is aggressively expanding its outreach with the fundamental philosophy of coming very close to its clients. Very soon, the Bank’s branch number would exceed 100 through opening of more branches in Addis Ababa and up-country.


Point-of-sale Terminals for Making Payments at Merchant Sites

As part of launching of its first payment card service, our Bank has so far installed a total of 79 ATMs in Addis Ababa and in major regional Cities. In pursuit of continuous expansion, more will be deployed in the capital city and regional cities and towns, within the near future.  Please go to E-Banking > ATM locator or click here to see the list of ATMs deployed so far.


Wegagen Bank conducts Annual Management Meeting

Wegagen Bank conducted Annual Management meeting on July 19, 2014 at Capital Hotel & Spa. In the event, past year performance of FY 2013/14 was thoroughly evaluated and discussed giving high emphasis to each branch’s resource mobilization activities. Important lessons were also drawn from each branch’s endeavors and reflections were also made regarding support from the head office units in executing the activities of the branches. The Bank’s President/CEO, Ato Araya G/Egizabher, chaired the meeting.


Point-of-sale Terminals for Making Payments at Merchant Sites

To access cash in your bank account, use our ATM network at your convenience, and to make a payment, just present your Agar Card or any Visa International cards with our POS network to the Merchant.



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